Patton Fund Management Inc. Acquires Shares of 4,938 GE Vernova Inc. $GEV

Patton Fund Management Inc. acquired a new stake in GE Vernova Inc. (NYSE:GEV) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 4,938 shares of the company’s stock, valued at approximately $2,613,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after purchasing an additional 753 shares during the last quarter. Centaurus Financial Inc. raised its stake in shares of GE Vernova by 94.4% during the fourth quarter. Centaurus Financial Inc. now owns 1,600 shares of the company’s stock worth $526,000 after purchasing an additional 777 shares during the last quarter. NorthCrest Asset Manangement LLC purchased a new stake in shares of GE Vernova during the fourth quarter worth approximately $237,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of GE Vernova by 24.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,409 shares of the company’s stock worth $430,000 after purchasing an additional 276 shares during the last quarter. Finally, Marcum Wealth LLC raised its stake in shares of GE Vernova by 32.5% during the first quarter. Marcum Wealth LLC now owns 1,171 shares of the company’s stock worth $357,000 after purchasing an additional 287 shares during the last quarter.

Insiders Place Their Bets

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the transaction, the chief financial officer directly owned 7,590 shares in the company, valued at approximately $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

GEV has been the subject of several research analyst reports. Robert W. Baird increased their price objective on GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Susquehanna increased their price objective on GE Vernova from $662.00 to $736.00 and gave the stock a “positive” rating in a research report on Thursday, July 24th. Melius Research set a $740.00 price objective on GE Vernova and gave the stock a “buy” rating in a research report on Monday, September 15th. Mizuho cut GE Vernova from an “outperform” rating to a “neutral” rating and set a $670.00 price objective for the company. in a research report on Monday, July 28th. Finally, TD Cowen upped their target price on GE Vernova from $390.00 to $685.00 and gave the company a “buy” rating in a report on Friday, July 25th. Four research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $592.35.

GE Vernova Stock Down 0.4%

GEV opened at $605.21 on Friday. The firm has a market cap of $164.75 billion, a P/E ratio of 145.83, a PEG ratio of 4.43 and a beta of 1.87. GE Vernova Inc. has a 52 week low of $248.50 and a 52 week high of $677.29. The business’s fifty day simple moving average is $622.99 and its 200 day simple moving average is $488.82.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.23. The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the company earned $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio is 24.10%.

GE Vernova Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.